Spanish Property Insight August 13 2013
I have just read Mark Stücklins excellent article “Too many homes in the wrong place, too much red tape” (http://www.spanishpropertyinsight.com/2013/08/13/too-many-homes-in-the-wrong-place-too-much-red-tape/) which sums up what has happened and what is happening in the Spanish Property market. He says that Spain’s real estate problem “is not so much a glut as too many homes in the wrong place” and “not enough for sale where people want them”.
If you had watched the recent Top Gear episode where Jeremy Clarkson, Richard Hammond and James May, drive the McLaren Mp4-12c Spider, Ferrari 458 Spider and Audi R8 Spyder from Gibraltar through Spain, you would have seen evidence of some of “the glut”. Large developments on the outskirts of Spanish cities or large towns that are like “ghost towns” and which you cant imagine anyone ever wanting to live there.
These developments were bought by greedy developers and financed by thoughtless banks happy to lend to anyone without considering the consequences. If they had been made to build better quality and well designed properties in the better locations then the country’s overall situation would be much healthier.
To support Mark Stücklin’s statement that “there are not enough for sale where people want them”, we have witnessed a surge in activity of people wanting to buy property in the La Duquesa, Manilva, Sabinillas and Casares areas. The problem we are facing is that we are running out of properties to sell. The only reason why some of the properties we have listed are not selling is simply because the vendors cannot lower the selling price down to the current market values.
The area Barrington Homes covers is only a 20 minute drive from Marbella, the area Mark mentions that will sell. Because our area is not as well known as Marbella many people start their property search in the Marbella Municipality and end up buying in the Manilva or Casares Municipalities as they discover and fall in love with the place and can buy a property at a fraction of the price.
Barrington Homes have a large number of clients coming to look at property with a view to buy over the next couple of months. If you are considering selling your property please contact Damian or Claire on +34 952936216 .
If you are thinking of buying a property in Spain and would like to know more about our wonderful area, please email me at lucy@barringtonhomes.eu and I will send you the guide I have written about this beautiful area.